Hyderabad, Feb 24 (TNT): KFin Technologies Limited (KFintech), a Central Recordkeeping Agency (CRA) under the National Pension System (NPS), has enabled instant healthcare expense payments under the NPS Swasthya Scheme, in collaboration with Apollo 24/7 and ICICI Prudential Pension Funds, marking a significant fintech-led expansion of retirement-linked financial services.
The integration allows NPS subscribers to link their NPS Swasthya accounts with the Apollo 24/7 payment platform and pay eligible medical expenses instantly, similar to a UPI transaction, the company said in a release on Tuesday.
The feature enables partial withdrawal from Swasthya contributions while ensuring the remaining retirement corpus continues to remain invested, balancing liquidity needs with long-term retirement savings.
From a business and ecosystem perspective, the initiative strengthens KFintech’s position as a technology infrastructure provider in the pension and financial services sector, while expanding Apollo 24/7’s digital healthcare payments ecosystem.
It also reflects ICICI Prudential Pension Funds’ efforts to innovate retirement products by integrating healthcare financing capabilities.
KFintech, in its CRA role, manages account authentication, transaction processing, and settlement within the regulated NPS framework.
Eligible healthcare payments are securely validated, units are redeemed as per regulatory norms, and funds are directly settled with healthcare providers, ensuring compliance, transparency, and operational efficiency.
Commenting on the development, Sreekanth Nadella, Managing Director and CEO, KFin Technologies Limited, said the NPS Swasthya Proof of Concept represents a progressive step in making retirement solutions more responsive to healthcare needs while maintaining governance, transparency, and rule-based fund access through robust digital infrastructure.
TNT KS
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